Philomene

Update on Philomene

Philomène is 41 years old, a widow, and the mother of two children, aged 25 and 29. She also has four other persons to support. She is a merchant at a market in the capital where she has had a business selling game and fresh fish for about ten years. She was satisfied with the previous loan and plans on taking out another one to pursue her goals.

Her good experience, the quality of her products, and especially her practical prices have created an atmosphere of trust between her and her customers, thus resulting in a continual increase is demand. Unable to satisfy this demand on the one hand and with meager capital on the other, she is requesting a loan enabling her to increase her stock of merchandise. The profits earned will be reinvested in her business and will enable her to continue caring for her family as a result.

Previous Loan Details

Philomène is a 41-year old widow, who is mother to two children aged 24 and 28 years old. She also has four other dependents. She is a trader in one of the capital's markets, where she has been selling game and fresh fish for around ten years. Her significant experience, the quality of her produc...
More from Philomene's previous loan »

Additional Information

More information about this loan

This loan is part of ACEP Cameroun's new loan program targeting poor clients who require smaller loans thant ACEP normally disburses. The smaller loan size allows clients with micro-enterprises to borrow and repay the funds they need to grow. By supporting this loan, you are expanding financial access to entrepreneurs with very little starting capital, including many who have never taken out a loan.

About ACEP Cameroun

Agence de Crédit pour l’Entreprise Privée (ACEP) is Kiva's second Field Partner in Cameroon. Founded in 1999, ACEP has developed a strong lending methodology to serve entrepreneurs in Cameroon's urban centers such as Douala and Yaounde.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

This photo was used before for a previous loan for Philomene. It was first posted on Kiva on Aug, 2012. Learn More

Photo from previous loan

Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.

Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.